There are good alternatives for each area. And Tseng cards are not the best choice for every application.

For me: 1)

In the 386 days, the ET4000 was THE card to have. It was even the card of choice in that "Wing Commander book" I had as a kid.

Ofcourse you can choose this card because of its name. It is like some would like to have cards with a certain PCB color...
Reality is, if you got a decent card on 386 the CPU limits, maybe small differences work out on a fast ISA based 486 (40 MHz+).
For Win3, it might be a good choice to use a card with 2D acceleration. ET4K ISA does not have this.

For VLB there are also good alternatives, like cards with S3 chips.

Option 1, is not a really good one. Lot of old games have different issues by Tseng cards.
I changed to a ISA Cirrus Logic card. The speed measured by landmark is the same (ISA bus limit), but the CL is more compatible...maybe even better picture on a tft...but this is a relative thing.

It's no secret I like Mach64 for ISA video cards but the Tseng 4000 based cards are good, too. If you're doing a separate VGA/3D combo using only PCI slots then a Tseng 6000/6100 as your VGA card is almost foolproof. If you can find an all in one VGA/3D card with a Tseng chipset doing the VGA part, so much the better but after a while ATi, nVidia and 3DFX became competent enough in their all in one solutions that you wouldn't want to use a Tseng card. I can't see using one with P5/P54 era hardware because later cards were still compatible with those motherboards and a few still had good backwards compatibility with older games.